Orbis Allan Gray Ltd purchased a new stake in Itau Unibanco Holding S.A. (NYSE:ITUB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 41,390,151 shares of the bank's stock, valued at approximately $227,646,000. Orbis Allan Gray Ltd owned 0.38% of Itau Unibanco at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Parallel Advisors LLC boosted its position in shares of Itau Unibanco by 707.1% during the 1st quarter. Parallel Advisors LLC now owns 7,740 shares of the bank's stock worth $43,000 after purchasing an additional 6,781 shares during the period. Alta Capital Management LLC purchased a new position in shares of Itau Unibanco during the 1st quarter worth approximately $62,000. Ieq Capital LLC purchased a new position in shares of Itau Unibanco during the 1st quarter worth approximately $64,000. Tuttle Capital Management LLC acquired a new stake in Itau Unibanco during the 1st quarter worth approximately $67,000. Finally, Waverly Advisors LLC acquired a new stake in Itau Unibanco during the 4th quarter worth approximately $67,000.
Wall Street Analyst Weigh In
Separately, UBS Group reiterated a "neutral" rating on shares of Itau Unibanco in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $6.27.
View Our Latest Report on ITUB
Itau Unibanco Stock Performance
Shares of NYSE:ITUB traded down $0.08 on Wednesday, reaching $6.94. The company's stock had a trading volume of 23,997,454 shares, compared to its average volume of 28,634,270. The stock's 50-day moving average is $6.66 and its two-hundred day moving average is $6.19. Itau Unibanco Holding S.A. has a 52-week low of $4.42 and a 52-week high of $7.18. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.59 and a quick ratio of 1.59. The stock has a market capitalization of $74.77 billion, a P/E ratio of 9.83, a PEG ratio of 1.08 and a beta of 0.86.
Itau Unibanco (NYSE:ITUB - Get Free Report) last announced its earnings results on Tuesday, August 5th. The bank reported $0.18 EPS for the quarter, meeting analysts' consensus estimates of $0.18. Itau Unibanco had a net margin of 14.05% and a return on equity of 19.48%. The business had revenue of $7.14 billion during the quarter, compared to analysts' expectations of $44.75 billion. As a group, sell-side analysts forecast that Itau Unibanco Holding S.A. will post 0.8 EPS for the current year.
Itau Unibanco Increases Dividend
The firm also recently announced a monthly dividend, which will be paid on Monday, September 8th. Stockholders of record on Wednesday, August 20th will be issued a $0.0454 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This is a positive change from Itau Unibanco's previous monthly dividend of $0.00. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%. Itau Unibanco's dividend payout ratio is currently 33.80%.
About Itau Unibanco
(
Free Report)
Itaú Unibanco Holding SA offers a range of financial products and services to individuals and corporate customers in Brazil and internationally. The company operates through three segments: Retail Banking, Wholesale Banking, and Activities with the Market + Corporation. It offers current account; loans; credit and debit cards; investment and commercial banking services; real estate lending services; financing and investment services; economic, financial and brokerage advisory; and leasing and foreign exchange services.
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